Unitech Case

Ex-Unitech promoters in SC seeks hearing on bail pleas in fraud case

Former Unitech promoters Sanjay Chandra and Ajay Chandra on Wednesday urged the Supreme Court that either their bail pleas be heard by it or they be allowed to move the trial court for securing relief in a financial fraud case in which they are in custody for over five years. During the hearing, the top court asked the Noida authority to process the layout and building plans of Unitech Group, without asking for the upfront payment of dues. A bench of Chief Justice D Y Chandrachud and Justice M R Shah was told by senior advocate Siddharth Dave, appearing for Chandra brothers, that both of them are lodged in jail for over five years and six months in the case lodged by Economic Offences Wing (EOW) of Delhi Police for financial fraud for which maximum sentence is seven years imprisonment. The bench asked what happened to the precondition of deposition of Rs 750 crore in the court for securing bail. Dave said that the condition was imposed in a plea for interim bail but now the charge

Rs 395-cr bank fraud: CBI files new case against Unitech, former directors

The CBI has filed a new case against Unitech Limited and its former directors in connection with an alleged fraud in the IDBI bank involving an amount of Rs 395 crore, officials said. Nearly six months after a complaint from the bank, the Central Bureau of Investigation (CBI) has booked the company and its former promoters and directors Ramesh Chandra, Ajay Chandra and Sanjay Chandra under the Indian Penal Code (IPC) sections dealing with criminal conspiracy and cheating and provisions of the Prevention of Corruption Act, the officials said. The accused Unitech founders are facing another CBI probe pertaining to an alleged fraud in the Canara Bank. The company was allegedly enjoying a vendor bill discounting (VBD) facility, a kind of credit, of Rs 400 crore from the IDBI bank in 2012, the officials said. "Due to slowdown in real estate sector and pile up of inventory, the company was facing liquidity mismatch, and the payment of VBD bills was delayed," the complaint, now a part of

'Unitech promoter brothers used homebuyers' money to bribe Tihar officials'

ED said its probe has found that homebuyers' funds amounting to Rs 244 crore were "illegally diverted" by Unitech promoters Ajay and Sanjay Chandra to CIG Realty Fund

Unitech case: ED attaches Rs 257-cr assets; total attachment at Rs 1,059 cr

A senior ED official said that the attached properties include residential, commercial units, land parcels, demand drafts, equity shares and bank account balance

ED in hot pursuit of Rs 5k cr allegedly siphoned off by Unitech's Chandras

They were accused of cheating home buyers on the pretext of a Gurugram based project and since then they are behind the bars

SC seeks ED's status on recovering Unitech home buyers' money from Cyprus

The top court also appointed former Supreme Court Judge AM Sapre to look into the policy and finalization of standard operating procedure for monetization of land assets

ED arrests Unitech promoters Ajay, Sanjay Chandra in money laundering case

The arrests were made after the federal probe obtained the Supreme Court's permission

SC clears hurdle on custodial interrogation of ex-Unitech promoters by ED

The Supreme Court on Wednesday cleared a hurdle for fresh custodial interrogation of ex-Unitech promoters Sanjay Chandra and Ajay Chandra by the Enforcement Directorate

Court sends Unitech promoter Sanjay Chandra's wife, father to ED custody

Additional Sessions Judge Dharmender Rana sent Preeti Chandra to ED's custody till October 9, Ramesh Chandra to October 8, and Rajesh Malik till October 11.

SC seeks report from ED, police on probe against Unitech, ex-promoters

SC asked the ED and Delhi Police to file status reports on their investigations into the affairs of realty firm Unitech Ltd as well as its former promoters and management officials before September 30

Unitech owners operating from Tihar, Supreme Court shifts them to Mumbai

Both Sanjay and Ajay, who are in jail since August 2017, are accused of siphoning off home buyers' money

SC orders shifting ex-Unitech bosses from Tihar jail to Mumbai prisons

The Supreme Court Thursday directed that erstwhile Unitech promoters Sanjay Chandra and Ajay Chandra be shifted from Tihar Jail here to Mumbai's Arthur Road Jail and Taloga jail in Maharashtra

Former Unitech promoters were operating from Tihar jail: ED tells SC

Sanjay and Ajay Chandra deputed staff outside Tihar jail premises to communicate with outside world and dispose of properties, ED tells SC

SC grants 15-day interim bail to Unitech's ex-promoter Sanjay Chandra

The bench refused to accept the submission of senior advocate Siddharth Dave for some more time; Sanjay is accused of allegedly siphoning homebuyers' money

SC asks TSIIC to pay Unitech Rs 165 cr in case related to township project

This comes as a relief to cash-strapped Unitech

Can't allow Noida to walk away with Unitech's surplus land till new RP: SC

The top court told Noida Authority that it would be appropriate to wait till the newly constituted Board of Directors of the company submits a resolution plan for the cash strapped realty firm

Unitech takeover: Despite IBC and RERA, homebuyers find no relief

Analysts point out the RERA, too, has not been able to stem the litany of woes faced by homebuyers in financially stressed projects

Government nominee directors appointed on board of crisis-hit Unitech

On Tuesday, Unitech's newly appointed chairman and managing director (CMD) Yudvir Singh Malik assumed office

Govt lays out strategy to revive Unitech, says won't use public money

The MCA on Wednesday submitted a proposal in the Supreme Court to take over the management of Unitech.

Pay Rs 2,734 cr in 15 days or else lose land: Noida Authority to Unitech

Realtor Unitech was issued notices respectively on August 24 and August 30 for clearing the two dues